[143 Pages Report] The fire suppression market was valued at USD 21.74 billion in 2017 and is projected to reach USD 29.13 billion by 2023, at a CAGR of 4.87% during the forecast period. The base year considered for the study is 2017, and the forecast period is 20182023.

In the construction industry, there has been tremendous advancement in facility management in developing nations over the past several years, especially in the area of building automation. Various aspects of building automation include monitoring and control systems such as HVAC, power production, lightning arresters, elevators, safety, and security. The installation of fire sprinkler systems in buildings has become common as these systems are effective in detecting, containing, and extinguishing fire early on. Currently, advanced technologies have been developed for carrying out communication during fire situations. This enables quick deployment of response teams to the affected site. For example, Terma offers a solution called T.react Radio Dispatch. This solution works on the TETRA communication infrastructure for safe communications. It enables security staff to handle all voice-based communications on a modern TETRA network during crisis as well as daily operations.

The objective of the report is to provide a detailed analysis of the fire suppression market based on suppression reagent, product, sector, and geography. The report provides detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market.

The research methodology used to estimate and forecast the fire suppression market begins with capturing data on key vendor revenue through secondary sources such as British Automatic Fire Sprinkler Association (BAFSA), International Fire Sprinkler Association (IFSA), press releases, investor relation presentations, and annual reports. The vendor offerings are also considered to determine market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have been verified through primary research by conducting extensive interviews with experts such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primaries is depicted in the figure below:

The fire suppression market is estimated to be worth USD 22.97 billion in 2018 and is projected to reach USD 29.13 billion by 2023, at a CAGR of 4.87% between 2018 and 2023. Key factors such as technological advancements and innovations in the construction industry; increasing policies, regulations, and government mandates; and increased damage to human life and property due to fire breakouts are driving the market growth. The fire suppression market has been segmented on the basis of suppression reagent, product, sector, and geography.

FM200 (fire suppression reagent) accounted for the largest market size in 2017. FM200 is a clean, colorless, and environmentally friendly fire suppression agent that is electrically nonconductive and safe for humans. It extinguishes flame primarily through heat absorption, leaving no residue, and thus minimizing downtime after a fire. FM200 agent is stored in a cylinder as a liquid and pressurized with nitrogen, which makes it a highly compact fire suppression system. The use of FM200 does not affect aluminum, brass, steel, cast iron, lead, stainless steel, copper, etc., as well as rubber, plastic, and electronic components. Due to this, it is used in telecommunication facilities, computer rooms, control rooms, museums and art galleries, historical archive storage, and pharmaceutical and medical facilities.

Asia Pacific held the largest share of the fire suppression market in 2017. Growing urbanization in this region has increased construction activities, contributing significantly to the growth of the market. The expansion of the manufacturing base in Asian countries has also led to the growth of the market. China Fire Protection Association, Fire and Security Association of India (FSAI), and Japan Fire Retardant Association (JFRA) have developed fire safety norms. HOCHIKI, Nittan Company, Nitin Fire Protection Industries, Firetronics, Ningbo DSW International, Yamato Protec, and Nohmi Bosai are some of the companies in APAC that manufacture, design, install, and maintain fire suppression systems.

Major factors restraining the fire suppression market growth are high installation and maintenance costs of fire suppression systems and the lack of integrity in system interfaces.

Major companies in the fire suppression market are Johnson Controls, United Technologies, Robert Bosch, Siemens, Halma, Hochiki, Firefly, Minimax Viking, Honeywell, and S&S Fire Suppression Systems. Key innovators in the market are EMS Security Group, Electro Detectors, Napco Security Technologies, Fike, and Gentex. Other key players are Noha Norway, Sterling Safety Systems, FireProTec, Fire Suppression Limited, and Encore Fire Protection. These companies are focusing on product launches and developments, acquisitions, and collaborations to enhance their product and service offerings and expand their businesses.

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